Algonquin Power & Utilities (TSE:AQN) Stock Price Down 6.6% After Earnings Miss

Algonquin Power & Utilities Corp. (TSE:AQN) was down 6.6% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as C$6.17 and last traded at C$6.38. Approximately 1,545,567 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 2,230,205 shares. The stock had previously closed at C$6.83.

The company reported C$0.06 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative return on equity of 19.30% and a negative net margin of 39.22%. During the same quarter in the previous year, the firm posted $0.16 EPS.

Insider Activity

In related news, Director Dilek Samil sold 17,400 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$6.46, for a total transaction of C$112,421.40. Also, Director David Levenson bought 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of C$6.45 per share, for a total transaction of C$399,900.00. Corporate insiders own 0.06% of the company’s stock.

Algonquin Power & Utilities Stock Performance

The company has a market capitalization of C$3.73 billion, a price-to-earnings ratio of -3.45, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92. The company’s fifty day simple moving average is C$6.57 and its two-hundred day simple moving average is C$6.85.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.